Deep Tide TechFlow message: On July 16, according to The Block, a US federal grand jury indicted South Dakota crypto investor Benjamin Paul Wiener, charging him with allegedly committing 29 counts including wire fraud, money laundering, bank fraud, and aggravated identity theft.

The prosecution said he carried out an operation pattern similar to a Ponzi scheme through eight entities, defrauding dozens of victims in South Dakota and Minnesota of about $20 million, and transferred funds via banks and cryptocurrency exchange platforms, concealing their source, with some funds used for personal expenses. The case is currently being investigated by the US Internal Revenue Service Criminal Investigation unit and the FBI.